Stock Updates for December 26, 2023:

60 / 100

Here are the key stock updates for December 26, 2023:

  1. Biocon: The company has partnered with Sandoz for the exclusive distribution of Adalimumab BS Subcutaneous injection, which is viewed as a positive development.
  2. Reliance Industries: According to a report, Reliance Jio and Walt Disney have signed a non-binding term sheet to merge their Indian media operations, signaling a positive move for both entities.
  3. Wipro: The company denies rumors of former L&T Infotech CEO Sanjay Jalona joining, resulting in a negative impact on market perception.
  4. Anupam Rasayan: The company has signed a Letter of Intent (LoI) worth $61 million or ₹507 crore with a leading Japanese multinational chemical company, indicating a strong positive development.
  5. Zydus Lifesciences: The company has received six observations from the USFDA for its API plant, which is viewed as a negative development.
  6. Can Fin Home: ICRA has upgraded the company’s rating of long-term facilities to ‘AAA’ from ‘AA+’, reflecting positively on its creditworthiness.
  7. Jindal Steel & Power: The company has entered into a Memorandum of Understanding (MoU) with RINL for the operationalization of RINL’s Blast Furnace-3 (BF-3), signaling a positive collaboration.
  8. NTPC: The company’s Renewable Energy unit has won a bid for 900 MW solar projects, indicating a positive outlook for its renewable energy ventures.
  9. Talbros Auto: The board approves the divestment of its entire 40% stake in JV Co Nippon Leakless Talbros for Rs. 81.8 crore, viewed as a positive financial move.
  10. Archean Chemicals: The subsidiary has been declared the successful bidder for acquiring Oren Hydrocarbons Private Limited, signaling a positive expansion.
  11. RITES: The company has entered into a pact with NEEPCO to strengthen logistical infrastructure at Northeast hydropower stations, indicating a positive collaborative effort.
  12. Fusion Microfinance: CARE has revised its credit rating for the Long-Term Bank Loan Facilities of Fusion Micro Finance Limited from CARE A to CARE A+, reflecting positively on its creditworthiness.
  13. NDTV: A civil suit filed by Ankiti Bose before Bombay HC seeking Rs 820 crore damages against arm NDTV Convergence has been amicably settled between the parties, which is viewed as a positive resolution.
  14. RK Forging: NCLT approves RK Forging’s acquisition with ACIL Limited, signaling a positive development.
  15. EMS: The company has received a letter of award from the Urban Development Department for awards worth Rs 356.6 crore, indicating a positive business prospect.
  16. PNC Infratech: The company achieves financial closure for a highway project of Rs 819 crore, reflecting positively on its project execution capabilities.
  17. Adani Wilmar: Promoters propose a share sale in the open market to achieve minimum public shareholding, resulting in a neutral market impact.
  18. UPL: The company plans to raise funds to Rs 4,200 crore via a rights issue, indicating a neutral financial move.
  19. SBI: The bank signs a $165 million Line of Credit with the World Bank for promoting rooftop solar projects in India, reflecting a neutral financial development.
  20. Bank of Baroda: The bank raises its stake in ONDC to 8.51% from 5.56% for Rs 30 crore, indicating a neutral financial move.

🔸 Buying Range: Rs. 828-844 🔸 Target: Rs. 960 🔸 Stoploss: Rs. 772 🔸 Timeframe: 3 months IRCON 🔸 Buying range: Rs. 167-171 🔸 Target: Rs. 184 🔸 Stoploss: Rs. 163 🔸 Timeframe: 14 days add it
Here are the provided stock recommendations:
  1. IRCON:
    • Buying Range: Rs. 828-844
    • Target: Rs. 960
    • Stoploss: Rs. 772
    • Timeframe: 3 months
  2. Addition:
    • Buying Range: Rs. 167-171
    • Target: Rs. 184
    • Stoploss: Rs. 163
    • Timeframe: 14 days

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